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Paul Singer Blasts Bitcoin

Jan 28, 2014

Jing Chen

Hedge fund guru Paul Singer is not a fan of virtual currency Bitcoin.

The Wall Street Journal reported that Singer, the founder of Elliott Management, told investors that he was shocked at how popular Bitcoin has become and professed his skepticism of the currency’s long-term prospects.

Singer wrote to investors that “there is no more reason to believe that Bitcoin will stand the test of time” and encouraged investors to consider gold, which he admitted is “out of fashion.”